Condor Gold Share Discussion Threads

[zangdook] 30/12/2022 05:33

We still haven't had a directors' holdings RNS. I think it's fair to assume that none of the directors took part in the open offer.

Mellon took his but only because a gazillion options were attached, and his increased holding was covered in the 21 Dec RNS, which didn't mention any other directors.

[diggybee] 30/12/2022 00:22

MC's opinions are worth about the same as a toddler's after ice cream.

[grimreaper2019] 29/12/2022 19:37

Still working the boards 'book5' would love to know who you represent and how much you are being remunerated.

Your posting (bashing) has gone into overdrive since Condor put themselves up for sale, therein lies the clue.

[book5] 29/12/2022 16:16

A mansion in Nicaragua would cost millions of pounds to build, but the reselling value would be a fraction of that

Caliber NPV of all its reserves is probably many times its current market value. Why should the market value CNR differently? We do not generate cash, nor has assets abroad.

The only way to get the NPV is actually mining the gold ourselves, get a toll deal and reduce costs by getting rid of all the lightweights in the uk and part of the Nicaraguans too. Then save the deposit to finance ourselves the mine

Anyone one with cash would buy whatever is cheaper and safer, he or she would look how other business are valued in nicaragua

It will take years to take our investment back, I hope we are able to start generating cash soon bcs if we sell it would be a disaster for my pocket (imho we would be lucky if we get 27p per share in current market conditions)

[septblues] 29/12/2022 16:00

MC said Condor was worth £1.20 per share at the recent Denver Gold Forum

[redprince] 29/12/2022 11:03

My take on this fwiw (and i know less than many here) is that Jim has pushed for a sale because he is fed up with the time taken to get this far ie BFS completed on the first pit.Now why he would take a low offer is beyond me and a lot of folk are assuming he would - we do not know what price he would walk away from a deal and what he would consider selling up at.
For sure JM has lowered his average considerably although anyone else could do the same right now in the open market.I just went for my allocation and no more which brings my average down below 40p but i dont expect to make much here if anything.

Still i believe it was worth the risk - AIM is like this - a casino really where big wins are rare and director remuneration is usually well out of sync with the value (if any) created for shareholders.

[book5] 29/12/2022 09:42

JM bears probably the most responsibility of all the directors for where we are today bcs of the toll deal fiasco.
Most likely JM was the main obstacle for cnr not having a toll deal in early 2021
Even MC said he wanted one but not all the directors wanted it…then he blamed Calibre but that in my opinion was to protect JM who wanted more shares.

Investing in the mill was a disaster too, but the worse was probably not buying all land much earlier either by a cpo or negotiating

Result is probably a divided board and ruined investors

I hope they leave the past where it is an all concentrate in delivering value, for what we need is to generate cash

[flughafen17] 29/12/2022 08:49

Jim Mellon often promoted Condor at Master Investor events, frankly his decision to sell the project/company at the bottom of the market makes has done his credibility no good at all.

[silverspoon2009] 29/12/2022 08:38

Having attended a number of Condor presentations pre Covid by Mark Child - what would have happened if someone had asked during Q&A if they would put the company up for sale at a start price of 15p a share - the questioner, at the time, would have been laughed out of the room as Child was propagating Condor was materially undervalued at 45p a share, I recall he even had charts of peer valuations to prove it.

What a complete comedown for Child, a well remunerated CEO with a very poor performance record, one suggests he has taken circa £3m in salary over the time of his tenure.

There is no doubt in my mind Mellon wants out and he will settle for his money back and not much more, so it looks like 35p-40p is most likely, far far away from Child's dream of £1+ suggested back in 2017/18.

New CNR buyers could make a decent turn therefore as the low exit price will attract buyers & thankfully Child will not be involved in the negotiations as Mellon will do the deal.

[book5] 28/12/2022 14:18

Silver
Agree with all except the exit price
imho he would accept a lower offer than 40p
What would change the situation is if we would get a toll deal from la Mestiza to La Libertad, and reduce uk based overheads. Probably with a 20koz per year toll deal we could save enough money to build the mine for la india in 4 to 5 years. I hope This scenario is still possible,

[corrientes1] 28/12/2022 11:37

With all these apparent sells, why hasn't the share price moved down more ? I can recollect steeper price drops on lower volumes. I've got a horrible feeling about this situation.

[book5] 28/12/2022 06:47

Difficult to fully understand all the expresións in the above article, after reading, what i understand is that the
USA government does not disclose future sanctions, current Sanctions are maintained ( they are not increased). Article mentions last October sanctions against government’s mining company, but does not elaborate more.
Gla

[book5] 23/12/2022 17:13

😩😩😩
JM is not a dictator but a shark, probably with a bad indigestion for getting too many shares instead of accepting a toll deal in 2021.
Ortega triggered his indigestión and other miners de-rating

[dexdringle] 23/12/2022 16:40

Ortega or Mellon ?

[book5] 23/12/2022 16:02

Thanks Connect
Merry Christmas to you too, and to the rest
For a better 2023 year without the nasty dictator

[connect5] 23/12/2022 15:37

May I take this opportunity to wish everybody a very merry Christmas. May Santa please bring us all the gift we ultimately desire. Thank you to all the many individuals for your insightful posts that have certainly helped me to keep a perspective on things during difficult times.

[zangdook] 23/12/2022 14:50

Now we won't hear anything until the middle of next week. Perhaps little Mark thinks we'll forget to check how much he put in the pot if he leaves it until after Christmas.

[corrientes1] 23/12/2022 11:37

Exciting and highly entertaining chat by you guys over a very long period, and sometimes able to compete with the best soaps, only for it all to end up in a whimper, It's just like my lovely dog, sadly now deceased, who makes me smile every time I think of him.

On the other hand I'll sometimes think of the chiefs running this gravy train, (sorry, CNR) and well, as a very fit person, they should hope that I never meet them in a quiet place.

[zangdook] 23/12/2022 09:49

And the box of biscuits will not be distributed to us, they'll be invested in JM Biscuit Consumption plc.

[diggybee] 23/12/2022 09:41

Sold to a JM company for a box of biscuits more likely. Then he will make money and the minorities screwed with the help of Director Eeeeeek. Poor old Mark prob gets screwed too but at least he's collected a couple hundred a year and had a few all expense paid holidays toNicaragua and usa a year.

[dexdringle] 23/12/2022 09:23

What, like a normal, reasonable, respectable business would? 😂

I think the cash raise will prove to be the last gasp of keeping the gravy train running.

So next up will be the announcement in a few months time (once the money has gone) that, sadly, and despite their best endeavors, the board have concluded that the whole venture is not viable and has been sold to Ortega Industries Limited for the price of a new box of biscuits....